Dec 19, 2022

Axelar , a secure interchain communication network across Web3, launched the $60m Axelar Ecosystem Startup Funding Program. A group of top-tier blockchain investors is committing capital to support the program: Blockchange, Chorus One, Collab+Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, SCB 10X, and others. The program will accelerate the development of decentralized applications and protocols that can replace centralized exchanges, providing onramps to blockchain-based technology for millions of users. It is designed to nurture a pipeline of developers building Web3 products that are better than anything on the centralized web. That means they: Solve global problems that the centralized internet cannot address. Safeguard digital sovereignty, security and privacy. Onboard masses easily, without unnecessary friction between specific blockchains or tokens. Investors participating in the program will engage with teams individually, making independent investment decisions on the deals the Axelar Ecosystem Startup Funding Program introduces. Powered by this group of investors, the program will accelerate the growth of the decentralized web on all blockchains. To bootstrap the flow of new startups, the program intends to operate a series of hackathons, meetups and grant programs. Axelar has raised capital from top-tier investors, including Binance, Coinbase, Dragonfly Capital and Polychain Capital. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot and others. Axelar’s team includes experts in distributed systems/cryptography and MIT/Google/Consensys alumni; the co-founders, Sergey Gorbunov and Georgios Vlachos, were founding team members at Algorand. FinSMEs 19/12/2022